Hanjin Establishes Singapore Subsidiary to Target ASEAN Market

Hanjin announced on the 14th that it has established a corporation in Singapore and is officially starting to build an ASEAN network.

Hanjin explained that the establishment of the Singapore corporation is a strategy to strengthen its position in the Asian logistics market. The company plans to expand various businesses such as forwarding, e-commerce, and trucking.

Since entering Cambodia in 2008, Hanjin has focused on building an ASEAN logistics network by establishing corporations in Vietnam, Indonesia, Myanmar, Thailand, and other countries. The newly established Singapore corporation is expected to serve as a hub for the ASEAN network through synergy effects with the existing Southeast Asian corporations.

Through the forwarding business of the Singapore corporation, Hanjin plans to discover forwarding volumes linked to its global network spanning the United States, Europe, China, and Southeast Asia. In the e-commerce sector, it will collaborate with local partners and provide customs clearance, delivery, and fulfillment services to Singapore and the Southeast Asian region. Additionally, by utilizing the trucking business, Hanjin plans to expand inland transportation services within Singapore and cross-border transportation services to neighboring countries.

As of last year, Hanjin operates in 18 countries with 14 corporations and 32 bases, and this year, including the Singapore corporation, it plans to focus on building a global logistics network with 22 countries, 18 corporations, and 42 bases.

A Hanjin representative stated, "The establishment of the Singapore corporation is an important first step to enhance competitiveness in the ASEAN market and to position ourselves as a leader in the Asian logistics industry. We will continue to strengthen our global capabilities and strive to provide the best logistics services."